US stocks failed to make any meaningful recovery from the previous sessions’ broad-based heavy declines, the tech-based NASDAQ bounced over +0.8% while the Dow recovered a mere 30-points of yesterday’s almost 1300-point plunge.
- US inflation remains hot and interest rates may go higher than previously anticipated but the rate-sensitive tech stocks remain in the middle of their June – Augusts trading range.
- We believe over the coming weeks the market will regain strength primarily because investors are already bearish and underweight, some good news must surface eventually!
MM remains bullish on US equities into Christmas
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